Germany's get-tough attitude toward Greece, echoed by Austria, Finland and the Netherlands, has angered Greek officials who say they have done everything they were asked to do in order to be granted a second bailout by the troika of the European Union, International Monetary Fund and European Central Bank.

Italy sold bonds on Thursday, but not as many as hoped in thin trading. While yields fell, they were still not far from euro-lifetime highs as investors displayed concern over the country's ability to sustain itself. After the auction, the European Central Bank stepped in to purchase Italy's bonds on...